Illumina Inc (ILMN)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,760,000 | 1,612,000 | 1,372,000 | 1,036,000 | 1,076,000 |
| Inventory | US$ in thousands | 587,000 | 568,000 | 431,000 | 372,000 | 359,000 |
| Inventory turnover | 3.00 | 2.84 | 3.18 | 2.78 | 3.00 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $1,760,000K ÷ $587,000K
= 3.00
The inventory turnover ratio for Illumina Inc has been varying over the past five years. In 2023, the inventory turnover ratio was 2.67, which indicates that the company turned over its inventory approximately 2.67 times during the year. This was higher than the previous year (2.53 in 2022) but lower than in 2022 (3.02) and 2019 (2.90). The fluctuations in the inventory turnover ratio suggest changes in the company's inventory management efficiency and sales performance over the years. A higher inventory turnover ratio generally indicates that the company is selling its inventory quickly, while a lower ratio may suggest slower sales or excess inventory levels.
Peer comparison
Dec 31, 2023